Quick and Easy Installment Loans
Applying for a loan can be a great option when you need access to extra money in a hurry. Even so, some loans take time to process and fund, which can be a problem when you’re facing an urgent expense.
When you need money fast without the hassles and delays, consider quick and easy Installment Loans from Advance America.
What are Installment Loans?
An Installment Loan is a type of unsecured financing that you receive in a single lump sum. This personal loan is versatile and flexible enough to use for various reasons, including emergencies, home improvements, car payments, and more. Quick and easy Installment Loans can be a good alternative to Payday Loans because you can typically apply for a larger amount of money.
When applying for your loan, review the repayment terms and your monthly budget. Installment Loans offer convenient monthly payment options, so you will need to make sure you can afford to make your monthly installment payments.
Remember, repayment terms vary by lender. Be sure to choose a company that offers favorable rates, terms, and conditions that suit your needs and budget.
How do Installment Loans work?
Here's a quick look at what you can expect when applying for an Installment Loan:
Step 1: Comparison shop
Compare lenders and loan options to choose the best Installment Loan for your needs. A good way to do this is by comparing customer reviews using Google and Trustpilot.
With more than 82,000 5-star reviews on Trustpilot and counting, Advance America is a top Installment Loan lender.
Step 2: Gather the necessary documents
Next, collect the information and documents you'll need to apply for the loan. For Installment Loans from Advance America, that includes:
- A government-issued ID
- Your Social Security number
- Pay stubs
- Bank statements
- Checking account Step
3: Fill out the loan application
When you’re ready, complete the Installment Loan application. You can apply for Advance America's quick and easy Installment Loans online or in-store. Either way, we’ll make our approval decision in minutes!
Step 4: Receive the funds
If you apply and are approved for the loan in-store, you can receive your funds before you walk out the door. If you're approved for an online Installment Loan before 10:30 AM EST, you typically receive your funds the same day. Otherwise, you'll receive your money on the next banking business day.
Step 5: Review repayment terms
Finally, it's important to review your loan's repayment terms and conditions. Be sure to know when your payments are due and how much you owe for each installment. You can avoid unwanted fees and penalties by making payments on time and in full.
Different types of quick and easy Installment Loans
The term “Installment Loan” is a fairly broad one that can refer to several different types of loans, including:
As the name implies, a personal loan is an Installment Loan given to individual borrowers. You can use personal Installment Loans to pay for various needs, including home improvements, medical bills, funeral costs, or even wedding expenses.
Emergency loans are another common type of Installment Loan that people often apply for when they need cash in a hurry. They're specially created for people with emergency expenses, such as car repairs, ER visits, or major household appliance replacements.
Although many people don't know it, student loans are Installment Loans. You can use student loans to pay for college tuition, educational books, student housing, and similar costs. The main difference between student loans and other types of Installment Loans is that most student loan payments can be deferred while you’re still in school.
Bad-credit Installment Loans
If you don't have a good credit history, that doesn't automatically disqualify you from receiving an Installment Loan. Certain lenders consider other factors, such as your current income and employment status, when deciding whether to approve your loan application. If you can show an ability to repay your Installment Loan on time, you may still qualify.
Finally, mortgages are also a type of Installment Loan that you use to pay for your home. These loans are offered by mortgage lenders or banks and are one of the most common types of Installment Loans on the market. But they’re also one of the most difficult to get.
Can I get an Installment Loan online?
One of the biggest advantages of quick and easy Installment Loans is that you can apply for them online! To do so, you will need the following:
- Government-issued ID, such as a driver's license or passport
- Steady source of income
- Social Security number
- An active checking account
- Email address
Applying for an Advance America Installment Loan is quick, easy, and convenient. You can complete the process entirely from the comfort of your home and receive your funds the same day if you apply before 10:30 AM EST. You can then view your payment schedule, loan terms, and payoff amount in your online account.
Reasons to get an Installment Loan
A quick and easy Installment Loan may be the right option for you if you:
Want to consolidate debt
Debt consolidation is when you apply for a single, large loan to pay off multiple smaller ones. This can be advantageous because you're more likely to have lower interest rates and more favorable payment terms with a single Installment Loan than with multiple smaller loans.
Have an emergency expense
Quick and easy Installment Loans are ideal for emergencies that put you in a precarious financial situation. You can use the funds to pay for your emergency expenses, then repay the loan through fixed monthly payments.
Need to pay for home repairs
Installment Loans can be a good choice when you need to cover home repairs or upgrades. For example, you might need an Installment Loan to repair a broken air conditioner, replace your water heater, fix your roof, or remodel your kitchen.
Alternatives to Installment Loans
If an Installment Loan doesn't sound like the right loan for you, here are a few other options:
If you don't need a sizeable amount of money, consider applying for a Payday Loan from Advance America. Payday Loans are small-dollar loans, usually less than $500, that are designed to be repaid the next time you get a paycheck. Therefore, the exact size of your Payday Loan will depend on your income.
Lines of Credit
Rather than receiving a lump sum of money upfront, a Line of Credit is a source of ongoing funds. Lines of Credit, similar to credit cards, allow you to withdraw money as needed up to your credit limit. You will have to repay everything you borrow, plus interest, but only on money you withdraw from the Credit Line and not on the entire line.
Explore quick and easy Installment Loans at Advance America
If you've evaluated your options and a quick and easy Installment Loan is the right choice for you, consider applying for one from Advance America. You can apply for our Installment Loans online or in person at your nearest Advance America store.
Ready to apply? Start your application today!